Chrysler US to offer zero per cent finance
January 19, 2009 by Matt Brogan
With $1.5 billion in federal loan money on the way, Chrysler has introduced a number of financing options in the US today including zero per cent finance packages.
Company executives said the loan money should start flowing immediately and that further incentives could follow shortly.
“We can now buy credit and get customers in the 620 [credit score] range, which dramatically opens the footprint of customers who can buy from our dealers,” said Jim Press, Chrysler co-president.
Steven Landry, executive vice president for North American sales and service, said: “Dealers told us after December that not having Chrysler Financial cost us 20 to 25 percent sales. We could see a significant lift.”
The extra money does not mean that Chrysler will return to leasing, which was suspended suddenly last August. The loan is strictly available to retail customers only.
The loan announcement came a day after Chrysler announced it was extending shutdowns at some of its factories by an extra week.
Based on its sales projections, Chrysler expects to use up the loan proceeds by March 31st. That is the deadline for Congress to approve Chrysler’s plan for viability under conditions of its $4 billion federal loan.
There are no such plans for similar finance arrangements in any of Chrysler’s Australian dealerships.
Print it: 
0% do they wonder why they are in this mess ? Whats the small print say I wonder ?
I wonder if any of this ‘zero interest’ will show up in their already denuded product quality.
Deck chairs and ships spring to mind again.
If this is how they’re using the taxpayer bailout money the loan should be called in tomorrow.
This company has no future and anyone buying any of their products (anywhere in the world) must have their brain parked firmly in their buttocks.
wasn’t it the really low interest rates in the US that started this whole mess in the first place? If someone needs a 0% finance loan to afford a car, they are probably not the right people to be lending to.
talk about digging a hole deeper…….
I agree with Captain,
how on earth are they allowed to use the bailout money for this short sighted scheme???
where is this “Czar” guy thats meant to be watching every move Chrysler and GM are making??????
I cant believe the executive went to a press conference and stuck his chest out and announced this as if he was a genius.
and further to that i cant believe the jurnos pass it on with a shade of positive light.
surely this article isnt totally correct, surely…..
mmmmmmmmm well thats interesting not the first time Chrysler have done this.
2006 quote \” The Chrysler Group apparently isn’t done cleaning house and is extending its offer of 0% financing on select vehicles through the end of March. The company originally announced its “0% is Back” promotion back at the beginning of February. Unlike that promotion, the deal in March eliminates the combination deals that offered consumers both low APRs and customer cash.
The incentive drive in March offers no interest, 60-financing on minivans, the Chrysler Pacifica, Dodge Ram light and heavy duty pickups, Dodge Durango and Dakota, the Jeep Liberty, Wrangler, Grand Cherokee and Commander.
Customers can also choose 2.9 percent financing for 72 months, consumer cash up to $3,000, or lease cash plus $1,000 Chrysler Financial Bonus lease cash.
Chrysler reported sales for the month of February up 3 percent over last year on a booming 19-percent rise in car sales. The LX platform alone accounted for 30,241 combined units sold.\”
Um guys it didnt work then did it for you to be where you are now ?